Syon Capital LLC Boosts Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Syon Capital LLC boosted its position in Lam Research Co. (NASDAQ:LRCX) by 24.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,622 shares of the semiconductor company’s stock after purchasing an additional 314 shares during the quarter. Syon Capital LLC’s holdings in Lam Research were worth $1,271,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in LRCX. International Assets Investment Management LLC lifted its holdings in shares of Lam Research by 76,165.7% in the 4th quarter. International Assets Investment Management LLC now owns 318,028 shares of the semiconductor company’s stock valued at $249,099,000 after purchasing an additional 317,611 shares during the last quarter. Cerity Partners LLC increased its stake in shares of Lam Research by 1,125.6% in the fourth quarter. Cerity Partners LLC now owns 342,139 shares of the semiconductor company’s stock worth $267,984,000 after acquiring an additional 314,224 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Lam Research by 10.8% in the third quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock valued at $1,029,386,000 after buying an additional 159,815 shares during the period. Canada Pension Plan Investment Board increased its holdings in shares of Lam Research by 106.5% in the third quarter. Canada Pension Plan Investment Board now owns 301,071 shares of the semiconductor company’s stock valued at $188,702,000 after purchasing an additional 155,240 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Lam Research by 9.7% in the 3rd quarter. Northern Trust Corp now owns 1,523,215 shares of the semiconductor company’s stock valued at $954,705,000 after buying an additional 134,558 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on LRCX shares. Susquehanna dropped their price target on Lam Research from $880.00 to $850.00 and set a “neutral” rating on the stock in a research note on Thursday. Evercore ISI started coverage on Lam Research in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,200.00 target price on the stock. Barclays raised their price target on shares of Lam Research from $825.00 to $865.00 and gave the stock an “equal weight” rating in a report on Thursday. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $1,100.00 price target on shares of Lam Research in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Lam Research in a research report on Thursday, April 11th. They set a “hold” rating and a $1,000.00 price objective for the company. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and a consensus price target of $948.35.

Lam Research Price Performance

LRCX traded up $16.58 during trading on Thursday, hitting $901.47. The company’s stock had a trading volume of 1,306,910 shares, compared to its average volume of 1,071,530. Lam Research Co. has a 12 month low of $493.42 and a 12 month high of $1,007.39. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $118.18 billion, a price-to-earnings ratio of 35.20, a price-to-earnings-growth ratio of 3.21 and a beta of 1.51. The firm’s 50 day moving average price is $943.93 and its two-hundred day moving average price is $806.38.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.26 by $0.53. The company had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.72 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. Lam Research’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the business earned $6.99 EPS. Sell-side analysts forecast that Lam Research Co. will post 28.96 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were issued a $2.00 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.89%. Lam Research’s dividend payout ratio (DPR) is 30.94%.

Insiders Place Their Bets

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the sale, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the sale, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the transaction, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock worth $6,559,489 in the last three months. 0.32% of the stock is owned by insiders.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.